largest economy inSoutheast Asiaand29th largest economy in the
worldbypurchasing power paritywith gross domestic product for 2008 of $222
with a growth rate of 5% to 7% since 2007.
In 2009,GDP per capita(PPP)of Malaysia stands at US$14,900.
In 2009, the nominal GDP was US$383.6billion, and the nominal per capital GDP was US$8,100.
In the 1970s, thepredominantly mining and agricultural-based Malaysian economy began a transitiontowards a more multi-sector economy. Since the 1980s the industrial sector has ledMalaysia's growth.
High levels of investment played a significant role in this.
TheMalaysian economy recovered from the1997 Asian Financial Crisissooner thanneighbouring countries, and has since recovered to the levels of the pre-crisis era witha GDP per capita of $14,800.
Inequalities exist between different ethnic groups,with a major issue being that the Chinese minority accounts for 70% of the country'smarket capitalization, even though it only makes up about one-third of it.
Oil palmplantations make Malaysia one of the largest producers of palm oil in theworld
International trade, facilitated by the adjacentStrait of Malaccashipping route andmanufacturing are both key sectors of the country's economy.
Malaysia is anexporter of natural and agricultural resources, the most valuable exported resourcebeing petroleum.
At one time, it was the largest producer of tin,
oilin the world. Manufacturing has a large influence in the country'seconomy,
although Malaysia·s economic structure has been moving away fromit.
In an effort to diversify the economy and make Malaysia·s economy lessdependent on exported goods, the government has pushed to increasetourism inMalaysia. As a result, tourism has become Malaysia·s third largest source of incomefrom foreign exchange, although it is threatened by the negative effects of the growingindustrial economy, with large amounts of air and water pollution along withdeforestation affecting tourism.
The country has developed itself into a centreof Islamic banking, and is the country with the highest numbers of female workers inIslamic banking.
Knowledge-based services are also expanding.
cience and technology
Sheikh Muszaphar Shukor, first Malaysian in spaceScience policies in Malaysia is regulated by the Ministry of Science, Technology, andInnovation. Other ministries, such as the Ministry of Agriculture and the Ministry of Health, also have science departments. The country is one of the world's largestexporters of semiconductor devices, electrical goods, and information andcommunication technology products.
In 2002, theMalaysian National SpaceAgency(Angkasa) was formed to deal with all of Malaysia's activities in space, and topromote space education and space experiments. In early 2006,Sheikh MuszapharShukorand three other finalists were selected for theAngkasawan spaceflightprogramme. This programme came about when Russia agreed to transport oneMalaysian to theInternational Space Stationas part of a multi-billion dollar purchaseof 18 Russian Sukhoi Su-30MKM fighter jets by theRoyal Malaysian Air Force.
In an effort to create a self-reliant defensive ability and support national development,Malaysia privatised some of its military facilities in the 1970s.
This has created adefence industry, which in 1999 was brought under theMalaysia Defence IndustryCouncil. The government continues to try and promote this sector and its